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Ronin Price Prediction: RON Plunges 26% As This New Gaming Star ICO Roars Towards $9 Million

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Ronin Price
Ronin Price

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The Ronin price has plunged 26% in the last 24 hours to trade at $2.67 as of 4:44 a.m. EST on trading volume that soared 73% to $115 million.

Yesterday, RON’s price experienced a surge to a high of $3.5, coinciding with an announcement from Binance hinting at an upcoming listing. However, just five hours after Binance started trading RON at 16:30 UTC, the price of RON started to decline due to allegations of Binance members’ involvement in a pump-and-dump scheme related to Ronin.

Binance co-founder Yi He unveiled measures to prevent similar incidents, including offering a $5 million bounty for any information that leads to identifying and removing corrupt Binance employees.

Despite the plunge, RON maintains in a general bullish trend, with its price staying above the $2.5 price support to shield itself from significant declines. RON remains at a year-high peak, recording a 208% increase. However, RON’s market capitalization has dipped below yesterday’s $1 billion threshold, currently at $779 million.

Ronin Price Maintains Bullish Stance Above The Bullish Pennant

Ronin Price Analysis By
RON/USDT Analysis By

The Ron price indicates a correction initiated by the bears at $3.56, preventing the bulls from further profiting.

The bulls had propelled the price from the $0.43 support, driving the price to $2.18, forming the bullish pennant pattern, indicating a bullish trend continuation. Resiliently, Ronin traders took advantage of the pennant reaching the $3.56 high.

The technical indicators support the momentum as the price trades above the 50-day and 200-day simple moving averages (SMA) with a moving average cross at $0.73, affirming the bullish momentum.

Furthermore, the Relative Strength Index (RSI) is trending below the overbought region of 70 but above the 50 midline level. A rebound in price could see the RSI surge back to the overbought region of 70. 

Ronin Price Maintains A General Bullish Bias, Bulls Targets To Reclaim $3.56 Mark

The RON price has maintained a bullish outlook. If the momentum continues, the bulls could reclaim the $3.56 high. A further push above this level could see the price touch the $4 level.

However, if the bears maintain the downtrend, they could drive the price further, forcing the bulls to find a haven at the $2.22 support zone coinciding with the upper boundary of the pennant.

As traders await a reliable signal to add more orders, investors are in rush to acquire the Meme Kombat token, which is surging remarkably in its presale project. 

Meme Kombat (MK) Crosses $8.2 Million Milestone With Hard Cap Set At $10 Million

The Meme Kombat (MK) presale has secured over $8.2 million as it hurtles towards its $10 million hard cap with tokens priced at $0.279. 

With the major Solana outage today potentially affecting confidence in meme coins on its network, more money might start flowing to competing meme coins like MK that run on the Ethereum ecosystem.

Already, in what looks like a response to the Solana chain’s downtime, a substantial purchase of MK tokens amounting to $45,000, which is roughly equivalent to 19.9 ETH, was closed today.

Join Meme Kombat Now, Stake, Earn Rewards

The meme Kombat platform offers AI-generated battles by bringing together GameFi and meme characters. This unifying factor allows you, as a player, to wager on your preferred meme characters, giving you a chance to get rewards when your chosen characters win. 

You can stake your acquired MK tokens, guaranteeing a 113% annual percentage yield (APY). 

The Meme Kombat NFTs launch will follow with a visually appealing design. These NFTs guarantee significant utility in MK Season 2 of Kombat, offering a distinctive fusion of art and functionality.

The Meme Kombat project has attracted the attention of YouTuber and crypto analyst Jacob Bury, who predicts the potential for a 10X value increase on launch. 

To buy the MK tokens, connect your Web 3 wallet on the official Meme Kombat website and exchange your ETH, USDT, or BNB for MK tokens.

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